Well, there are several ethical questions to consider here. What were the conditions surrounding the bite? Were you in its space? Did you startle it out of sleep or come from behind? Has your dog ever shown aggression before? Does it get enough exercise and attention from you and those who live with you? Were you breaking up a dog skirmish and got bitten by mistake? If the dog just bit you out of the blue, have a vet check him or her for illness. Just as we get irritable and snap when we are sick, so do our pets. Some dogs are not bred well and they can have temperaments that are not suited to being around children; if they have not been socialized properly, it will take a lot of work and time to get them where you want them. But this situation did not occur overnight, either. On the other hand, if you and your vet feel this dog is damaged beyond help (get an objective, outside opinion because you are probably hurt and angry right now), then it may be in everyone's best interest to put him or her down. Putting a dog down is a choice reserved for only the most extreme cases and should not be entered into lightly.
The above is an excellent answer. Dogs are not aggressive and do not have behavioural problems unless something has been done to them, unless they have rabies or something like that, something unusual. If you adopted him and don't know his past, anything may have happened. Why put him down? Take him to the vet, then take him to a rescue; they will work with him. Dogs are always loving and do their very best for us, to be impatient with a dog is more about the human. Children can be abusive and test a dog to its limits. Give the dog a chance, first. A rescue does everything is can to save a dog.